Just 7% of UK shop payments predicted to be in cash by 2024 – report

Worldpay finds cash purchases fell to 13% last year as pandemic hastens switch to cards and mobiles

Just 7% of in-store purchases in the UK could be made in cash by 2024, a report has forecast, after the coronavirus pandemic fuelled the switch to cards and mobile payments.

While cash accounted for 27% of in-store transactions in 2019, the latest global payments report from processing company Worldpay found that had fallen to 13% last year. The report predicts usage will continue to drop over the next three years.

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Coronavirus | The Guardian

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